Exxon ordered to pay $507.5M in spill case - Memphis Business Journal:

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million in punitive damages plus interesft to plaintiffs affected by the Exxon Valdezs oil spill that impacted residents and businesses living alon the coast of Alaskain 1989. The made theit ruling Monday after the case was sent back fromthe . At the Nint h Circuit level, justices were charge d with determining interest andappellate costs. The Nintg Circuit confirmed the punitive damage amount aftefrthe U.S. Supreme Court determinee compensatory damages and punitive damages shouldx be assessed usinga 1-to-q1 ratio.
In its latest the Ninth Circuit confirmedthat Irving-based Exxohn (NYSE: XOM) is responsible for $507 million in punitive damages and must pay interesft on the judgment at the rate of 5.9 percentr dating back to 1996, when the initial judgment against the compan was first issued by a The federal case against Exxon Mobilo has been languishing for more than a The Ninth Circuit said both sideas will cover their own attorney’s fees. The originalp jury verdict against Exxon Mobiowas $5 billion, an amount that has been reduced by 90 perceng during the more than 10 yearws of litigation, according to court records.
An Exxon Mobill spokesman said Monday, "We are aware that the opiniom has been issued and will review the opinionn beforecommenting further."